Hyundai Steel said March 15 that it signed a memorandum of understanding with Hyundai E&C on March 13 at its training center in Dangjin to jointly develop a proprietary model for floating offshore wind power.
Under the agreement, the companies will jointly pursue development of a proprietary hybrid floating structure combining steel and concrete and aim to obtain approval in principle, or AIP, certification from Norwegian classification society DNV in 2027.
Floating offshore wind power generates electricity using structures that float on the sea rather than being fixed to the seabed, allowing installation in deeper waters farther offshore and making it easier to build large-scale wind farms.
The hybrid floater the companies plan to develop will apply Hyundai Steel’s high-strength, corrosion-resistant steel along with concrete, a combination they said can improve durability while also enhancing cost efficiency.
Hyundai Steel said it has already begun joint research with Hyundai E&C to build competitiveness in the next-generation offshore wind market and has filed joint patent applications related to the proprietary model.
A Hyundai Steel official said the company will "successfully develop the proprietary model" and expand its share of the offshore wind market based on its experience supplying steel for offshore wind projects at home and abroad.
* This article has been translated by AI.
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